Redfin (NASDAQ:RDFN) Stock Rating Lowered by B. Riley

Redfin (NASDAQ:RDFN) was downgraded by investment analysts at B. Riley from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

RDFN has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price target on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Citigroup cut their price objective on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Piper Sandler raised shares of Redfin from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $4.00 to $12.50 in a research note on Tuesday. DA Davidson reaffirmed a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group cut shares of Redfin from a “neutral” rating to a “sell” rating and upped their price objective for the company from $6.00 to $6.50 in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.48.

Redfin Price Performance

RDFN stock opened at $9.76 on Monday. Redfin has a one year low of $5.10 and a one year high of $15.29. The stock has a market cap of $1.23 billion, a PE ratio of -7.63 and a beta of 2.90. The firm has a 50 day simple moving average of $7.92 and a two-hundred day simple moving average of $9.41.

Insider Buying and Selling at Redfin

In other Redfin news, insider Christian John Taubman sold 16,333 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $8.44, for a total value of $137,850.52. Following the completion of the transaction, the insider now directly owns 73,466 shares in the company, valued at approximately $620,053.04. This represents a 18.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Redfin by 14.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 258,481 shares of the company’s stock worth $2,034,000 after purchasing an additional 33,327 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Redfin by 17.4% in the 4th quarter. Two Sigma Advisers LP now owns 2,524,100 shares of the company’s stock worth $19,865,000 after purchasing an additional 374,200 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Redfin in the 4th quarter worth $27,000. Point72 Asset Management L.P. bought a new position in Redfin in the 4th quarter worth $1,018,000. Finally, ProShare Advisors LLC raised its holdings in Redfin by 51.9% in the 4th quarter. ProShare Advisors LLC now owns 33,663 shares of the company’s stock worth $265,000 after purchasing an additional 11,503 shares in the last quarter. 61.07% of the stock is currently owned by institutional investors.

Redfin Company Profile

Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; and originates and sells mortgages.